Braveheart Investment Group PLC (AIM:BRH) said it raised £750,000 (before expenses) via a placing and subscription for new ordinary shares of 2p each at an issue price of 10.25p per share.
It issued 1.95mln new shares at the issue price pursuant to a placing, raising gross proceeds of £200,000.
Trevor Brown, Braveheart chief executive, himself purchased 5.37mln new shares, raising £550,000, taking his total holdings in the company’s enlarged share capital to 19.5%.
A total of 7.32mln new ordinary shares are to be issued and are expected to be admitted to trading on London’s AIM on 26 September.
Braveheart raised the funds to support its current investee companies from a position of strength should the need arise for further funds and to make opportunistic new investments, it said in a statement.
Shares dropped 2.0% to 9.8p on Tuesday morning.